Effect of Objectives on Prohibited Transactions
DOI:
https://doi.org/10.35516/law.v49i3.75Keywords:
Objectives, Transactions, ProhibitionAbstract
Objectives: This study aims to clarify effects of objectives on prohibited transactions through illustrating sharia objectives in loan agreement and their effect on prohibiting its interests, clarifying sharia objective in preventing monopolization, identifying what is conducted therein and sharia objective of pricing, its effect on the provision and cases thereof among the jurists.
Methods: An inductive method was used through inducting available prohibited transactions and extracting objectives effect thereon.
Results: Several findings were concluded, importantly: Sharia objective of loan agreement is showing leniency and giving benefit to borrowers. Effect thereof is reflected in permissibility of benefits for borrowers and prohibition for lenders. Jurists differed over common benefits; however, the objective view strengthens the opinion of permissibility supporters. Sharia objective of monopoly prohibition is warding-off damage from people. Therefore, monopoly which doesn’t lead to damage to people isn’t forbidden according to the jurists. Observing this objective affects monopolize identification by jurists. Sharia objective of pricing prohibition is warding-off injustice. Effect of observing this objective in prohibiting pricing for merchants if high prices are normal, as it’s unfair to oblige them thereto. However, if high prices are for extraordinary circumstances, then pricing is obligatory thereupon according to some jurists to ward-off injustice and harm from people.
Conclusions: Conduct comparative study between effect of sharia objectives on prohibitions included in some contemporary transactions with Sharia Standards or with contemporary laws.
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Accepted 2022-03-13
Published 2022-09-01
